Own vs Renting

[Mormolyce]

I'm renting because it's a bitch to save up a deposit. And it's a 30 year commitment.

[Doctor Amadeus]

I can't help it if another country's insurance companies won't pay for vandalism. That just means less people will rent their homes to anyone, making it a lose/lose to both sides. It's a stupid move by insurance companies if they want to remain in business.

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Yes, you do. Which is included in the rent payment from the tenant. If you don't include that insurance payment in what you charge for rent, then, yes, you will lose money.

Yes, but there are very particulars as to what my insurance covers for the property, and the tenants insurance covers. Which is why most landlords require tenants have renters insurance.

[Rasulis]

Never heard of such a thing for private persons acting as landlords in Sweden. I have on the other hand heard about a lot of cases where they've lost money or just about break even from being landlords or in a few cases even having to sell the house because they don't have the money to pay for repairs.

California here. I do know they have those in Britain also.

[Queen of Hamsters]

Unless you can pay the house in full, do you REALLY own it...?
That's why I'm busy saving up. I won't buy a home unless I can pay enough on it that it won't belong to a bank. Luckily I live in a part of the world where renting is cheap outside of "hot spots", and so are homes.

[Player Twelve]

California here. I do know they have those in Britain also.

None of which is Sweden.

[Daedius]

Long term own, short term rent.

[Total Crica]

renters insurance

Renter's insurance covers the renter's property, not the home owner's property. A home owner will ask a renter to have renter insurance to cover any damage to the tenants, any people who come onto the property while the tenant's rent the property and the renter's own property because the home owner's insurance doesn't cover any of that while it is being rented out to a tenant. The home owner's insurance payment is still paid by the current tenant's rent payment.

[vindicatorx]

I rent in SD for 2 reasons A) I don't plan on living here for more than another 8 months. It's unwise to buy a home if you don't live in it for at least 5 years. B) Many houses for sale have been on the market since I moved here 2 years ago. While I live in the capitol, it's only got 13,000 people here and I'm fairly sure that number is going down. The closest city with a population > 5,000 is 250 miles away.

[Player Twelve]

Again, a stupid move by insurance companies that want to remain in business. They will be looking for new work when no one is renting out their homes anymore.

Most people renting in Sweden does so from companies, municipally or privately owned companies, not usually by single private persons acting as landlords.

"Karlskronahem is a municipal real estate company with property portfolio in Karlskrona . The company primarily owns rental properties . Another municipal property company in Karlskrona is Kruthusen , which owns many public premises. During 2007 there were plans to transform the company into a municipal administration, for economic reasons."

They're the ones I rent from, they've got about 3900 apartments.

[Doctor Amadeus]

Renter's insurance covers the renter's property, not the home owner's property. A home owner will ask a renter to have renter insurance to cover any damage to the tenants, any people who come onto the property while the tenant's occupy the property and the renter's own property because the home owner's insurance doesn't cover any of that while it is being rented out to a tenant. The home owner's insurance payment is still paid by the current tenant's rent payment.

All the renters I have need a $500.000 coverage in liability for any damage the cause to the dwelling.

[Total Crica]

privately owned companies

There is no difference in a private company renting out homes they own and a private person renting out homes they own.

[Thagrynor]

I am curious what that infographic is based on. Living in Chicago, and having friends all over IL, I can tell you that, if they are factoring in property tax and routine maintenance, as well as snow removal and stuff, it is most definitely cheaper to Rent. Property tax in IL is insane, even more so near Chicago. For instance, property tax alone on the same basic house I am in now in Atlanta would run about 30-35% of what I pay in Chicago.

Personally, I feel better about owning, knowing that I can do what I like to the home without having to consult a landlord, but you definitely pay for that.

[Player Twelve]

There is no difference in a private company renting out homes they own and a private person renting out homes they own.

Private companies usually have multiple properties and have a far greater capital than a single private landlord looking to rent their house to someone.

[Total Crica]

Private companies usually have multiple properties and have a far greater capital than a single private landlord looking to rent their house to someone.

So? There is still no difference. Either a private person owns a home to rent out or they don't. Either a private company owns a home to rent out or they don't. If they both own a home to rent out, there is no difference in either one renting it out - the end result is the same, it's rented out by a private entity that owns it.

[Rasulis]

This is one reason I am so critical of California. I bought a couple properties there back in the 80s and I've watched poor management of the city and of the State slowly destroy the town I set down roots in. Frankly speaking, if I did not rent properties to supplement my income I have no doubt I'd not be able to make ends meet or pay the Property Taxes. Thankfully the largest thorn in our sides, Jerry Brown won't be eligible to run again in 2018. Hopefully California doesn't change the laws again so he or some nutbar like him, can slip through the cracks.

My wife and I owned several long term and vacation rentals in CA (San Diego, Santa Barbara, Carmel, Catalina, and Ft. Bragg), and we have had no complaints. Because of Prop 13, it is actually better than just about any other states.

[Player Twelve]

So? There is still no difference. Either a private person owns a home to rent out or they don't. Either a private company owns a home to rent out or they don't. If they both own a home to rent out, there is no difference in either one renting it out - the end result is the same, it's rented out by a private entity that owns it.

Yes, I have never said otherwise. Companies on the other hand, by virtue of having greater capital and multiple properties, take less risk by renting to someone than a single property private owner renting to someone. It doesn't matter nearly as much to them as it does to a private person acting as a landlord if the home gets fucked up by someone.

[Total Crica]

take less risk

No, they don't. The rent (and renter's insurance) pays for everything. If it's not paying for everything, then the home owner is not charging enough rent (or not requiring renter's insurance to be maintained) to pay for it all.

[Player Twelve]

No, they don't. The rent (and renter's insurance) pays for everything. If it's not paying for everything, then the home owner is not charging enough rent (or not requiring renter's insurance to be maintained) to pay for it all.

You can't charge however much rent you want to in Sweden. You're not allowed to take what is called "ockerhyror".

[Strawberry]

I am very restless and can't stay in one place. So I prefer to rent so I can just gtfo whenever I want and wherever I want.

[Rasulis]

I am curious what that infographic is based on. Living in Chicago, and having friends all over IL, I can tell you that, if they are factoring in property tax and routine maintenance, as well as snow removal and stuff, it is most definitely cheaper to Rent. Property tax in IL is insane, even more so near Chicago. For instance, property tax alone on the same basic house I am in now in Atlanta would run about 30-35% of what I pay in Chicago.

Personally, I feel better about owning, knowing that I can do what I like to the home without having to consult a landlord, but you definitely pay for that.

Yeah. Illinois' property tax sucks. My wife was paying for her parent's house property tax in Chicago. We were thinking it was cheaper than CA. Until her mother passed away, and we found out that it was cheap because her father had exempted the hell out of the property. The biggest one was the Senior Citizens Assessment Freeze Homestead Exemption which is similar to CA Prop 13 except for Senior Only.

All of them went away when her mother passed away, and we almost had a heart attack when we received the first tax bill after that.